Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT) Shares Bought by Northern Trust Corp

Northern Trust Corp increased its holdings in shares of Rocket Pharmaceuticals, Inc. (NASDAQ:RCKT - Free Report) by 14.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 663,152 shares of the biotechnology company's stock after purchasing an additional 82,316 shares during the quarter. Northern Trust Corp owned 0.73% of Rocket Pharmaceuticals worth $8,336,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Tudor Investment Corp ET AL increased its position in shares of Rocket Pharmaceuticals by 85.4% in the fourth quarter. Tudor Investment Corp ET AL now owns 31,125 shares of the biotechnology company's stock worth $391,000 after acquiring an additional 14,338 shares in the last quarter. Boothbay Fund Management LLC boosted its position in Rocket Pharmaceuticals by 20.6% during the 4th quarter. Boothbay Fund Management LLC now owns 52,130 shares of the biotechnology company's stock worth $655,000 after purchasing an additional 8,894 shares during the period. Virtus ETF Advisers LLC boosted its position in Rocket Pharmaceuticals by 40.4% during the 4th quarter. Virtus ETF Advisers LLC now owns 5,656 shares of the biotechnology company's stock worth $71,000 after purchasing an additional 1,628 shares during the period. Avoro Capital Advisors LLC acquired a new stake in Rocket Pharmaceuticals in the 4th quarter valued at $15,084,000. Finally, Voss Capital LP purchased a new position in Rocket Pharmaceuticals in the fourth quarter valued at about $5,301,000. Hedge funds and other institutional investors own 98.39% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on RCKT. Wedbush reaffirmed an "outperform" rating and issued a $32.00 target price on shares of Rocket Pharmaceuticals in a research report on Friday, May 16th. Cantor Fitzgerald upped their price target on Rocket Pharmaceuticals from $20.00 to $30.00 and gave the stock an "overweight" rating in a report on Friday, May 16th. The Goldman Sachs Group lowered their price objective on shares of Rocket Pharmaceuticals from $15.00 to $13.00 and set a "neutral" rating for the company in a research report on Friday, May 9th. JPMorgan Chase & Co. reduced their target price on shares of Rocket Pharmaceuticals from $45.00 to $44.00 and set an "overweight" rating on the stock in a research report on Friday, May 9th. Finally, Canaccord Genuity Group decreased their target price on shares of Rocket Pharmaceuticals from $36.00 to $34.00 and set a "buy" rating for the company in a research note on Monday, May 12th. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat.com, Rocket Pharmaceuticals has an average rating of "Moderate Buy" and a consensus target price of $37.73.

Insider Buying and Selling

In related news, insider Kinnari Patel purchased 21,099 shares of Rocket Pharmaceuticals stock in a transaction dated Wednesday, April 9th. The stock was bought at an average cost of $4.70 per share, with a total value of $99,165.30. Following the purchase, the insider now owns 26,774 shares in the company, valued at approximately $125,837.80. The trade was a 371.79% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gaurav Shah acquired 20,000 shares of the stock in a transaction that occurred on Thursday, April 10th. The shares were bought at an average price of $5.08 per share, for a total transaction of $101,600.00. Following the purchase, the chief executive officer now directly owns 792,680 shares of the company's stock, valued at approximately $4,026,814.40. This trade represents a 2.59% increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 24.76% of the company's stock.

Rocket Pharmaceuticals Stock Performance

RCKT stock traded down $0.03 on Thursday, reaching $6.56. The company's stock had a trading volume of 2,200,098 shares, compared to its average volume of 1,505,072. Rocket Pharmaceuticals, Inc. has a 52 week low of $4.55 and a 52 week high of $26.98. The company has a debt-to-equity ratio of 0.06, a current ratio of 6.05 and a quick ratio of 6.05. The company has a market capitalization of $700.52 million, a P/E ratio of -2.39 and a beta of 1.02. The firm has a fifty day moving average of $6.81 and a two-hundred day moving average of $10.11.

Rocket Pharmaceuticals (NASDAQ:RCKT - Get Free Report) last released its quarterly earnings results on Tuesday, May 13th. The biotechnology company reported ($0.56) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.58) by $0.02. During the same period in the prior year, the firm posted ($0.66) earnings per share. As a group, analysts predict that Rocket Pharmaceuticals, Inc. will post -2.83 EPS for the current fiscal year.

Rocket Pharmaceuticals Company Profile

Rocket Pharmaceuticals, Inc, together with its subsidiaries, operates as a late-stage biotechnology company that focuses on developing gene therapies for rare and devastating diseases. It has three clinical-stage ex vivo lentiviral vector programs for fanconi anemia, a genetic defect in the bone marrow that reduces production of blood cells or promotes the production of faulty blood cells; leukocyte adhesion deficiency-I, a genetic disorder that causes the immune system to malfunction; and pyruvate kinase deficiency, a rare red blood cell autosomal recessive disorder that results in chronic non-spherocytic hemolytic anemia.